Farm Mechanisation Scheme - Tractor

PURPOSE :

• For Purchase of new tractors and matching implements/equipments
• purchase of new power tillers
• purchase of second hand tractors with matching implements
• purchase of agricultural machinery, repair/renovation of tractors.

ELIGIBILITY :

Farmer or a group of farmers holding land jointly should have 2.5acres of perennially irrigated land.

FOR POWER TILLERS :

Farmer or a group of farmers holding land 1.5 acres of perennially irrigated land or corresponding acreage.

FOR OHTER FARM machinery/equipments:

No condition of minimum land holding has been stipulated.

EXTENT OF LOAN :

Need based loan.

INSURANCE :

The tractor borrowers who have opted for PNB Farmers' Welfare Fund Scheme are required to get their tractor and matching implements insured against "Liability"(third party) under the Insurance Act to get insurance coverage. The structure of fee is as under :-

• Rs.600/- : for 12 months of calendar year.
• Rs.300/- : for less than 6 months in a calendar year.

REPAYMENT OF LOAN :

Repayment of loan is to be made in half yearly/yearly instalments .